Adviser firm to compensate client after facilitating Cape Verde hotel investment

Incomplete fact find

Hannah Godfrey
clock • 3 min read

Insight Financial Associates has been asked to compensate a former client after it transferred his pension into a self-invested personal pension (SIPP) that was used to invest in a hotel development project in Cape Verde.

Mr H, as the Financial Ombudsman Service (FOS) referred to him, invested £66,318 into the project that saw him take a 45% stake in an ‘off-plan' apartment on the understanding he would later purchase the remaining 55%. His investment was later transferred to part-ownership of another smaller apartment. The idea behind the scheme was that investors would later rent out the apartments or sell them for profit. Mr H complained to Insight, which has offices in London, the south east and Leicestershire, in 2018 after his new financial adviser told him Insight's advice, which he received in ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

News editor's view: Standard Life/Aegon UK – Another big deal to digest

News editor's view: Standard Life/Aegon UK – Another big deal to digest

The news editor's Friday Night Takeaway from 17 April

Isabel Baxter
clock 17 April 2026 • 3 min read
Feel Good Friday: Chartered financial planner to run Manchester marathon 14 months after knee surgery

Feel Good Friday: Chartered financial planner to run Manchester marathon 14 months after knee surgery

Raising money for a money literacy charity Money Ready

Professional Adviser
clock 17 April 2026 • 1 min read
Inside the CII's Corporate Chartered status pilot

Inside the CII's Corporate Chartered status pilot

What next after organisation trails overhaul

Jen Frost
clock 16 April 2026 • 12 min read